Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) EVP Thomas P. Durels sold 5,779 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the transaction, the executive vice president now owns 56,028 shares in the company, valued at approximately $449,904.84. The trade was a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Empire State Realty Trust Price Performance
Shares of ESRT stock opened at $7.98 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. Empire State Realty Trust, Inc. has a fifty-two week low of $7.88 and a fifty-two week high of $11.62. The firm has a market cap of $1.34 billion, a P/E ratio of 28.50 and a beta of 1.39. The business's 50 day moving average price is $8.97 and its 200-day moving average price is $10.10.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The business had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. On average, equities research analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.
Empire State Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, March 14th. Empire State Realty Trust's payout ratio is currently 50.00%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on ESRT shares. Wolfe Research upgraded shares of Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 target price on the stock in a report on Tuesday. StockNews.com lowered shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a report on Wednesday, March 19th.
View Our Latest Analysis on ESRT
Institutional Trading of Empire State Realty Trust
Several large investors have recently bought and sold shares of ESRT. Vanguard Group Inc. lifted its stake in shares of Empire State Realty Trust by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust's stock valued at $204,800,000 after purchasing an additional 461,421 shares during the period. Ameriprise Financial Inc. raised its holdings in Empire State Realty Trust by 42.4% in the fourth quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust's stock worth $95,306,000 after purchasing an additional 2,750,045 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Empire State Realty Trust by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust's stock valued at $41,648,000 after buying an additional 171,056 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Empire State Realty Trust by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust's stock valued at $38,394,000 after buying an additional 90,758 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Empire State Realty Trust by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,419,970 shares of the real estate investment trust's stock valued at $35,302,000 after buying an additional 13,045 shares in the last quarter. 67.10% of the stock is owned by institutional investors.
Empire State Realty Trust Company Profile
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Get Free Report)
Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT's flagship Empire State Building - the "World's Most Famous Building" - includes its Observatory, Tripadvisor's 2023 Travelers' Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.
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